Property Rights Alliance –PRA, presented the 2022 version of the International Property Rights Index (IPRI), in which, Colombia ranked 74th out of 129, below the global average, entering the fourth quintile of the measurement and ranking below countries such as Eswatini (previously called Swaziland), Georgia and Sri Lanka.
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According to this year’s measurement, the three countries that achieved the highest protection of property rights are Finland, Singapore and Switzerland.
Although Colombia improved one position from 75 to 74, its results compared to the previous year worsened; the overall score went from 5.2/10 to 4.64/10, given the deterioration of the protection indicator for physical property rights.
In fact, the position of the country in the ranking is due to the fact that there was a global decrease in the protection of property rights.
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Regarding these results, the executive director of the Political Science Institute, Carlos Augusto Chacón, indicated that “They are alarming because, beyond the number, what lies behind are frustrated life projects, legal insecurity, low levels of investment, low levels of access to justice and impunity.”
In general, obstacles to the freedom of people and, with it, to the development of the country. “In addition, he assured that, “it is necessary to call attention to policy makers so that they act in favor of the rule of law, freedom and the promotion of better institutions that guarantee private property rights.”
The index turns out to be a fundamental tool for decision-making and helps identify the bottlenecks that prevent the effective protection of property and are the cornerstone of economic development and inclusive social prosperity.
The position of the country in the ranking is due to the fact that there was a global decrease in the protection of property rights.
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Sary Levy-Carciente, author of the IPRI, highlighted that a solid framework for property protection includes “knowledge sharing, technology sharing, licensing agreements, demanding better contracts, clearly defining IP rights, the promotion of a common ecosystem and the sharing of efforts and rewards”.
For his part, Lorenzo Montanari, executive director Property Rights Alliance, assured that, “Property rights are not only one of the most important pillars of a free society, but also human rights, as stated in article 17 of the UN Universal Declaration of Human Rights.”
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In Colombia, the think tank Instituto de Ciencia Política is a member of the Property Rights Alliance, and said that the three main components of the property rights ecosystem (Legal and Political Environment, Physical Property Rights and Intellectual Property Rights) interact to attract investments and nurture healthy institutions, necessary in the current political, social and economic scenario.
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